Boenning Scattergood Reaffirms “Buy” Rating for Watts Water Technologies, Inc. (WTS)

Boenning Scattergood reissued their buy rating on shares of Watts Water Technologies, Inc. (NYSE:WTS) in a research note published on Thursday, November 2nd.

Several other equities research analysts have also recently issued reports on WTS. BidaskClub cut Watts Water Technologies from a hold rating to a sell rating in a report on Monday, July 31st. Northcoast Research raised shares of Watts Water Technologies from a neutral rating to a buy rating and set a $79.00 price target on the stock in a research report on Monday, September 18th. Stifel Nicolaus started coverage on shares of Watts Water Technologies in a research report on Monday, September 18th. They set a buy rating and a $72.00 price target on the stock. Cowen and Company reaffirmed a hold rating and set a $58.00 price target on shares of Watts Water Technologies in a research report on Thursday, September 28th. Finally, Zacks Investment Research raised Watts Water Technologies from a hold rating to a buy rating and set a $79.00 target price on the stock in a research report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $72.83.

Shares of Watts Water Technologies (NYSE WTS) traded up $0.85 during mid-day trading on Thursday, reaching $73.10. The company had a trading volume of 127,367 shares, compared to its average volume of 128,134. Watts Water Technologies has a one year low of $59.15 and a one year high of $73.10. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.57 and a quick ratio of 1.70. The stock has a market cap of $2,500.00, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 2.00 and a beta of 1.12.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.03. Watts Water Technologies had a return on equity of 12.90% and a net margin of 6.49%. The company had revenue of $347.70 million for the quarter, compared to analysts’ expectations of $361.22 million. During the same period in the previous year, the firm posted $0.71 EPS. Watts Water Technologies’s revenue was up 1.9% compared to the same quarter last year. equities analysts predict that Watts Water Technologies will post 3.01 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.04%. Watts Water Technologies’s payout ratio is currently 28.25%.

In other Watts Water Technologies news, insider Elie Melhem sold 3,306 shares of the company’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $62.11, for a total value of $205,335.66. Following the completion of the transaction, the insider now owns 32,128 shares in the company, valued at $1,995,470.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio raised its holdings in shares of Watts Water Technologies by 0.8% in the second quarter. Public Employees Retirement System of Ohio now owns 2,038 shares of the technology company’s stock valued at $129,000 after buying an additional 17 shares during the last quarter. Suntrust Banks Inc. raised its holdings in shares of Watts Water Technologies by 1.0% in the second quarter. Suntrust Banks Inc. now owns 3,290 shares of the technology company’s stock valued at $207,000 after buying an additional 31 shares during the last quarter. Manchester Capital Management LLC raised its holdings in shares of Watts Water Technologies by 0.5% in the second quarter. Manchester Capital Management LLC now owns 11,040 shares of the technology company’s stock valued at $698,000 after buying an additional 50 shares during the last quarter. South State Corp raised its holdings in shares of Watts Water Technologies by 1.5% in the second quarter. South State Corp now owns 3,347 shares of the technology company’s stock valued at $212,000 after buying an additional 50 shares during the last quarter. Finally, Eqis Capital Management Inc. raised its holdings in shares of Watts Water Technologies by 1.1% in the second quarter. Eqis Capital Management Inc. now owns 5,932 shares of the technology company’s stock valued at $375,000 after buying an additional 64 shares during the last quarter. Institutional investors own 79.00% of the company’s stock.

About Watts Water Technologies

Watts Water Technologies, Inc is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.

Analyst Recommendations for Watts Water Technologies (NYSE:WTS)

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